This is a free report you can download when you sign up for the One Money Design monthly newsletter which offers a lot of different features.  Click here to learn more about the newsletter.

I’m a believer that finances can’t and shouldn’t be separated from God’s word.  In fact, everything we do as Christians should be based on the foundation of God’s word in our lives.

I’ve found in my studies that the Bible has a lot of guidance and timeless principles about money management.  Did you know there are over 2300 scriptures in the Bible about money?  Overall, money management is a challenging are of our lives and I believe God knew we would need some help.

This report is meant to provide an overview of what the Bible says about money.  It’s going to give you a great start in understanding God’s word on finances, but it’s not meant to replace the Bible or some excellent books by Christian authors that that delve much deeper into this subject.

The report contains over 7000 words and is a compilation of the popular series I wrote a while back on the subject of the Bible and Money.  The influence for the report comes from Crown Financial Ministries and material I share with people from the Money Map Coaching workbook.

It includes the following Biblical topics about money:

• Stewardship
• Giving
• Debt
• Contentment
• Savings
• Investing
• Family/Relationships.

If you’ve already signed up for the One Money Design newsletter you should have received a link to download the report in the August issue.  However, if you missed it, I’ll be sending out a reminder email to subscribers shortly.

I hope you enjoy this special report and it helps you to build a solid Biblical foundation for your finances.  Feel free to print the report and share it with others, or you can email it to your friends and family.  My goal is to inform people about God’s economy and help them eventually achieve true financial freedom to be more generous with their time and resources.

Click here to get the free newsletter and download this special report!

Without an adequate “rainy day fund” or emergency savings, sudden job losses and declines in income forced many people deeper into a debt trend that has plagued America for years.  In fact, debt is just the opposite of savings according to Larry Burkett.

Saving is making provision for tomorrow, but debt is presumption upon tomorrow.

Savings can be a challenge because our culture encourages doing just the opposite.  In my recent post on contentment and peace I discussed how our culture encourages discontentment.

That’s right.  If we can be encouraged to be discontent with our current situation, we are more likely to spend on products and services that lead us further away from saving and many times deeper into the arms of debt.

Thankfully, there are some good Biblical principles we can surface from scripture that can help guide our way.

Save for a coming famine, or challenging times ahead

Just as Joseph saved during a time of plenty to prepare for a coming famine, we too must expect their will be challenging times ahead.  I don’t have to convince anyone of this since our economy is still in a state of recovery.

Let Pharaoh appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. They should collect all the food of these good years that are coming and store up the grain under the authority of Pharaoh, to be kept in the cities for food.  This food should be held in reserve for the country, to be used during the seven years of famine that will come upon Egypt, so that the country may not be ruined by the famine (Genesis 41:34:36).

An example of wise saving

Scripture also tells us that Ants are good examples of creatures that actively save up or store for the future.

Four things on earth are small, yet they are extremely wise: Ants are creatures of little strength, yet they store up their food in the summer (Proverbs 30:24-25).

It’s interesting how we can learn wise principles from one of the smallest creatures on earth.  Yet, with Ants, saving seems to be built into their genetic structure.  We too must make saving become so common little thought has to be put into it.  It has to become a natural act of discipline in managing money.

It’s foolish to spend all we have

Scripture tells us that it’s simply foolish to spend all we have.  While we might be tempted or even encouraged to spend more and more, doing so limits the opportunity to prepare for the future.

In the house of the wise are stores of choice food and oil, but a foolish man devours all he has (Proverbs 21:20).

Do you ever feel like you devour or spend all you have?  At the end of the month, many individuals or families look at their checking account and realize there is nothing left for giving or saving.  One of the best ways we can overcome this issue is to pay ourselves after we give each month.  Once the money has been marked as savings and moved beyond immediate reach or access you are much less likely to spend it.

Do you face these common challenges in saving?

I don’t have enough money to save

I’m of the opinion that we need to plan like we’ll never receive another increase in income.  Just as debt is presuming on the future; you can presume you’ll have more money to save later.  The right giving, saving and spending mix has to be determined now and lifestyle must be adjusted accordingly.

Still, if you’re having trouble getting started, just focus on starting with a little bit.  If you’re goal is to save 10% of your paycheck, you might not be able to make changes to do so overnight.  But most people can make changes to get savings started.  Set a timeline in which you will increase savings and do the work to meet your goals.  For example, by April, I will increase my savings by X amount.

I spend my savings each month on common expenses

This is a common issue and it’s usually the result of not having a refined enough spending plan to capture all the necessary expenses for the month.  It can also be the result of not having enough of a barrier between you and your savings.

To combat this issue, make sure your spending plan or budget includes all the necessary spending categories.  You can learn more about budgeting by following a 3 step plan budgeting plan highlighted in my video post.

Creating barriers to savings involves getting your savings into another account.  Usually this account requires some thought and a little bit of work to get access to the money.  You’re much more likely to use it if it’s in your checking account.  To create these barriers set up automatic savings deposits as well as consider using a high yield online savings account.

What do you think about these Biblical principles to savings and how are you following them today?  Please share your tips and ideas with other readers.

Each of the posts from the Bible and Money series are based on principles discussed during Money Map Coaching sessions and the Money Map Coach participants’ guide.  You can learn more about Money Map Coaching at Crown Financial Ministries.  You can also visit my Money Map Coaching page.

Download this post.

When will the giveaway occur?

I’m going to conduct the giveaway contest the last Friday of each month.  It will run to the following Thursday at 8 PM ET.  The winner will be announced on the following Friday and right here in the comments.  I’ll also send the winner an email.

Why am I starting a giveaway?

Well, I think it’s a great opportunity to give something back to you as a valued reader, or even as a visitor to One Money Design.

How does the monthly giveaway work?

I want to make it as easy as possible for you as a reader or visitor to enter the contest.

1.   You can sign up to receive posts by email or in your feed reader, or connect on Twitter or Facebook (see specific instructions below).  Keep in mind, these different options are based on the honor system.   And if you’re already following in one of these ways, you can just go to step 2.

2.  Then, just leave a comment on the giveaway post to be entered in the drawing.   I’ll pick a winner using random.org.

What types of prizes will be offered in the giveaway contests?

I’m still thinking about this, but I do want to make sure I’m offering resources and tools to help people manage their money more wisely, or learn about Biblical financial principles.  I may work in some non personal finance prizes too.

So to get things started this month I’m giving away Money and Marriage God’s Way by Howard Dayton.   Here are some of the things you’ll learn from reading the book:

• What to do before you say “I Do”
• How to Discover your Financial Personality
• Special interactive online tools that can help you apply the principles you’ve learned
• Practical principles to create a successful money management plan
• Howard also looks at such issues as blending your family, the special challenges of stay-at-home moms, and more

So what do you have to do to win Money and Marriage God’s Way?

Pick one of the below or all three ways to follow me here at One Money Design.  And if you’re already following in one of these ways, you can just go to step 2.

Step 1

1. Sign up to receive posts by email, in your RSS reader, or
2. Become a fan on Facebook, or
3. Follow @onemoneydesign on Twitter.

Step 2

Then, just leave a comment on this post to be entered in the drawing (make sure you enter your email so that I contact you if you win).  The winner will be selected randomly using random.org.

Do this by Thursday, 2/4/10 at 8 PM ET.  The winner will be announced on Twitter and right here in the comments on 2/5/10.

Personal Finance Carnivals

• Carnival of Personal Finance

The email was about not being a good financial steward and poor decisions (out of fear) had led the family into debt.  The reader was humbly seeking a new beginning for this next year.  In other words, the reader was eagerly ready to take a step towards getting things right and to make some moves towards wise personal money management.

The New Year is always an opportunity to refocus.  Sure we might say that we could just stop where we are at any point within the year, refocus, re-prioritize and set new goals.  But it just so happens the New Year is kind of a fun way of saying that it’s an opportunity to just do things better and perhaps have a new beginning in some areas.

Some people don’t buy into it, but I guess I do.  I love that I can set my financial goals for the year and think about what I want our family to accomplish.  And the cool thing about that is the goals can be realistic, but stretched to challenge us and make us work harder.

A new beginning is what many are searching for this next year.  People are spending less recklessly and saving more much by force from the economy, but sometimes it takes some nudging to help us get things organized.

What is your new financial beginning this next year?

• Do you need to get on the same page with your spouse in regards to your finances?
• Do you need to get out of debt?
• Do you need to save more?
• Have you been doing so darn well that you need to share your story and help others?

As with the reader, we’ve all had failures as financial stewards.  Heck, I’m in the middle of this thing just like you and you can believe I’ve made financial mistakes along the way.  Have I had to dip into savings to cover additional expenses in the last 12 months?  Regrettably yes, but I’m not perfect.  I just have to learn how to plan a little bit better or watch spending in certain areas.

Financial hope

Whatever your goal or wherever you are on your financial journey, I want you to know there is financial hope for you and that hope comes from God’s word about money.  There is financial hope for the reader who emailed me.  Especially since there was an obvious motivation to change, to improve and to live by God’s plan.  Personally, I don’t want to do anything to deny God an opportunity to work in my finances.

Seek God through prayer

People like my friend Matt Jabs at Debt Free Adventure has financial hope in God.  Matt is working hard to be a good financial steward, but circumstances haven’t allowed him to achieve his goals.  He’s seeking God in prayer and asking for what isn’t possible on paper in meeting his debt and savings goals.  I’ve seen God provide for people in unexpected ways.  I’ve encouraged Matt to keep living his life for God and know that God’s plan is perfect for him whatever the outcome.

That is what I love about faith and personal finance.  If you invite God into the picture in this area of your life, as Matt has done and live as the best financial steward you can (knowing you will make mistakes), you’ve opened the door for Him to help you prosper and achieve true financial freedom.  Which by the way, should all be for Him.

Manage money wisely

How exciting is that?  Who knows what the next step will bring and what goals will be accomplished sooner than we can imagine.  So, join me this upcoming New Year in doing our part in managing wisely what has been entrusted to our care and know confidently that God will do His part in providing for our needs and helping us become financially free for his awesome purpose for our lives.

Seek first His kingdom and His righteousness, and all these things shall be added to you (Matthew 6:33)

I knew the second option would be a painful experience for my family and me.  The result of going in that direction might have brought me to a point of stagnation and depression.  I wouldn’t have been in a good state for job interviews and I imagine my negative emotions would have been written all over my face.

I knew the first option, if I could stand strong against number 2, would be a better journey.  I could one day look back upon the experience and be thankful for the opportunity to grow myself in my faith, be strong for my family and proud of my behavior.

Job losses are more frequent in today’s economy than two years ago.  But what is more frequent is the uncertainty many people have about their money each day.  Where will I get the money to pay this month’s electric bill?   Will I ever get out of debt?  I don’t have any money in savings; what if I lose my job?  These are all common questions.

A recent Crown Financial Ministries daily devotion addresses these questions well.

Worrying over investments, savings, money, or assets can cause financial bondage and may interfere with our lives. Then worry can spill over into other areas of life. If we are worrying, we are not trusting.

“Be anxious for nothing, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all comprehension, shall guard your hearts and your minds in Christ Jesus.” (Philippians 4:6-7 NASB).

The great thing about Biblical finance (Christian finance) is that we never have to manage our finances alone when we trust God.  When we open the door, make our requests known to Him, he answers.  Of course He may not answer in the way we expect, or desire, but He is faithful in His answer.

For me, knowing that I needed to find a new job to support my family, the route of faith proved to be a peaceful one.  Sure, I did my part by working hard to network and search for a job, but the weights and burdens of stress, worry and fear were lifted off of my shoulders because I let God carry them for me.  It’s nice to look back and have positive thoughts about such an experience.

Do your part in managing your money wisely, but let your requests be known to God and trust in Him to lift your burdens.

Do you have a story of how your faith has helped you overcome a financial burden?  If so, let us know about it in the comments.

You can catch the Crown Daily Devotions in the One Money Design sidebar, or subscribe here.

Howard told an interesting story of how he went from leading a life of get rich quick pursuit to one of financial stewardship.  After graduating college, Howard moved to Orlando Florida at the start of Disney World to try and strike it rich with real estate investments. Through the wise counsel of his wife, Howard was saved from what could have been a detrimental investment.  Thankfully, Howard backed away from the deal and later went on to start Crown Financial Ministries, a ministry dedicated to teaching people Biblical Financial principles.

Breakfast with Howard Dayton

Howard’s speech focused in on many people who have been impacted by the economic crisis today.  He mentioned there are more people with lost jobs and lost homes then there have been in a long time.  It is more important than ever to manage money wisely and look to the Bible for direction with our finances.  It’s time to “get back to the basics.”

Howard has never once received a pay check from his ministry due in part to his wise management of money.  That’s pretty amazing if you think about it. He has found a way through the challenges society presents us, to live a life of financial freedom to give more and serve others.  What an amazing life to live to find happiness and peace through the use of time and energy, with financial independence, to impart wisdom and coaching on those who need help.

Ah-ha moments in Howard Dayton’s life

People don’t realize the Bible gives direction beyond the first 10% of our income.  It doesn’t just talk about giving, but also tells us how we should earn, save and spend.

There are over 2300 scriptures in the Bible about money.  The Bible or God’s approach to finances is very different from what society tells us. God provides these principles because they please Him and to help us.

There were three key areas, Howard discussed, in which we can receive Biblical direction in regards to our finances in fighting these tough economic times.

Seek counsel

Don’t go at managing finances alone. Howard reminded us of how many people think they don’t need counsel in the area of finances.

With money issues being one of the top causes for divorce, I think we need all the help we can get.  If married, your wife should be at the top of your counselor list. In fact, it was Howard’s wife who by her wisdom and discernment led him away from the disastrous business deal.

Fatten up our piggy banks

We were reminded of how the savings rates for the American family have dramatically decreased over the last several years. After giving, we should be paying ourselves with savings. If all we make is spent every month, there is no room to protect against financial disaster or to invest for the future.

Get out of debt

Scripture tells us we are in servitude when we are in debt.  The best thing any family or individual can do for themselves financially is to get rid of the debt bondage.

Howard could not live a life of financial freedom today without being free of debt.  When we are debt free we are able to have more flexibility and positioned to take advantage of more opportunities.

Avoid car payments

One of the things Howard and his wife have done to stay out of debt is avoid car payments.  In order to get on the track of living without car debt, Howard suggests driving a car at least 3 years after you’ve paid it off. During that time, continue making car payments to yourself.  By the time “the wheels fall off” you should have enough savings plus any remaining equity to go and pay for a car with cash.

Biblical financial stewardship

The path Howard Dayton has taken in his life with money management is one of Biblical stewardship.  He turned away many years ago from the get rich opportunities that are so prevalent in society today and shifted his purpose to one of giving and servitude.  He helps others learn and apply financial principles which our built upon a solid ground.  Today, more than ever, is an opportunity to step back and apply the basics to our finances which have held strong in the past and will forever in managing money wisely for everyday life.

Howard Dayton has written some excellent books from a Biblical finance perspective. I’ve included a few of my Amazon affiliate links below.

• Your Money Counts
• Your Money Map: A Proven 7-Step Guide to True Financial Freedom
• Free and Clear: God’s Roadmap to Debt-Free Living

Howard also has a new book about money and marriage. I haven’t read this book yet, but please let me know your thoughts about it in the comments if you’ve read it.

• Money and Marriage God’s Way

Photo by Crown Financial Ministries.

Follow Biblical financial principals

So, how do you follow Biblical financial advice when life gets so busy?  Here are a few actionable things you can do to keep your focus.

What is Biblical finance?  I wrote a short article about Biblical Finance 101 which is a good place to start or get initial references to basic principles.

Scripture cards

Scripture cards are a great way to focus on one principle per week.  Each week on the One Money Design blog, I add a new Biblical financial scripture under the Bible and Money section.  Consider writing this scripture on a note card and carrying it with you throughout the week.  Before you know it, you’ll have several scriptures you can quickly reference for counsel.

Crown Biblical Financial Study

Learn more about Biblical financial principles by joining a Crown Biblical Financial Study.  Many churches now offer this study program.  My wife and I have taken the course and have taught it as well.

Christian personal finance books

Read a Christian based personal finance book every month.  Your Money Counts is a good book to put at the top of your list.  Look at the recommended reading list on the One Money Design sidebar.  I’ve read all of these books and learned a tremendous amount about the Bible and money.

Christian personal finance blogs

Subscribe to or read Christian personal finance blogs such as One Money Design, or Money Help for Christians.  Also, look at the One Money Design blogroll to find other great blogs about personal finances focused on the Bible and Money.

Christian personal finance radio or podcasts

Listen to radio or podcasts about personal finance.  Crown Financial Ministries has regular show that often mentions Biblical financial principles.  I will listen to this podcast as well as Dave Ramsey’s podcast sometimes during my commute to work.

Christian personal finance counselor

Think about becoming a Money Map Coach or financial counselor.  For those who want to take it to the next step, becoming a coach is a great way to share Biblical financial principles as well as teach others practical steps to managing money.  Your situation doesn’t have to be perfect to become a coach you just need the desire to learn more and help others.  Often, teachers learn as much as the students.

Can you think of other ideas to keep your focus on Biblical financial principles?

There is a lot of Biblical guidance related to finances and even after reading and studying many of the scriptures we can sometimes chart our own course and ignore sound financial advice.   I hope you enjoy the post!

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Most of us have heard that money is one of the leading causes of divorce in our society today.  I can’t help but think debt must play a large role in this cause because of the people I meet in financial counseling who are experiencing so much pain from it.

Live Debt Free – Avoid the Stress of Debt

Debt’s Weight

Debt carries a certain amount of weight with it.  Some debts are smaller and more manageable within a family budget.  Other debts weigh so heavily a family has difficulty in meeting monthly expenses.   If adequate amounts of money are not allocated to transportation, food, entertainment and other categories, a family may find itself making unhealthy sacrifices each month.

Let’s examine the affect of such a sacrifice.  Entertainment is one of the lower priority areas of a budget that usually will suffer because it’s not essential for survival.  However, it’s unhealthy for a husband and wife, or family, not to have an amount of money planned for fun together each month.

Temptation

A family can be tempted to use a credit card out of frustration from the lack of entertainment or money for other areas.  After the credit card has been used and debt increased as a result, the weight of debt on the minds of the husband and wife increases.

Doesn’t life sometimes require enough work and commitment as it is without adding more to the mix?  Increasing worry and stress from the debt can exhaust people and put relationships at risk if not properly managed.

Avoid Debt

Personally, I would just soon not put our family through this experience and avoid debt all together going forward.  In my opinion there is no immediate amount of satisfaction in buying a new car, toy or other that would cause me to want to increase debt and the work to manage it.

Financial Hope

Some have made decisions they wish they could change today, or others have unfortunately been impacted by unplanned expenses, such as healthcare, that couldn’t be avoided.  Experiencing the stress associated with debt is a serious matter.  Fortunately, there are steps that can be taken that provide financial hope no matter your debt situation.

• Pray about your debt.   Ask God to help you and trust that he will.
• Read Biblical Financial Responsibility and learn how God plays an important part in your finances.
• Contact a financial counselor to help explore options specific to your situation.

The next article in the series will discuss living debt free to help your children.

1. Live Debt Free – Biblical Advice
2. Live Live Debt Free – Fulfill Your Life Purpose
3. Live Debt Free – Avoid the Stress of Debt
4. Live Debt Free – Help Your Children
5. Tools to Live Debt Free